Ceylon Tea must move beyond bulk exports - CTTA Chairman

Sri Lanka must increasingly focus on value addition, premium branding, innovation and product diversification to maximise the value of every kilogram of tea produced, newly elected President of the Colombo Tea Traders' Association (CTTA) Lushantha de Silva said.

Addressing the CTTA’s 132nd Annual General Meeting (AGM) held in Colombo, de Silva said strengthening branded Ceylon Tea would generate higher export earnings, improve the livelihoods of producers and smallholders, and further enhance Sri Lanka’s reputation as a global benchmark for premium quality tea.

He reflected on the Association’s 132-year legacy in promoting governance, transparency and integrity within Sri Lanka’s tea trade. He noted that the CTTA has played a pivotal role in administering the internationally renowned Colombo Tea Auction while representing buyers, sellers, brokers, exporters, producers and other stakeholders across the tea value chain.

The event was attended by International Monetary Fund (IMF) Resident Representative in Sri Lanka Dr. Martha Tesfaye Woldemichael as Chief Guest, Sri Lanka Tea Board Chairman Raaj (R.K.) Obeysekere as Guest of Honour, while Ceylon Chamber of Commerce Secretary General and Chief Executive Officer Shiran Fernando delivered the Guest Address.

Delivering the keynote address, Dr. Martha Tesfaye Woldemichael described Sri Lanka’s tea industry as one of the country’s strongest ambassadors on the global stage and acknowledged its significant contribution to national economic recovery.

Reflecting on Sri Lanka’s progress since the economic crisis of 2022, she noted that inflation has declined substantially, tax revenue has more than doubled, foreign reserves have strengthened, public debt has fallen and debt restructuring is nearing completion through sustained reforms, fiscal discipline and accountability.

While recognising these achievements, Dr. Woldemichael cautioned that external challenges, including geopolitical tensions in the Middle East and disruptions to international shipping routes, continue to create uncertainty for export-oriented industries.

She reaffirmed the IMF’s commitment to supporting Sri Lanka in achieving resilient, durable and inclusive economic growth while safeguarding the gains made through recent reforms.

Guest Speaker Shiran Fernando said Sri Lanka is steadily regaining international confidence as both an investment destination and a trusted trading partner.

He noted that maintaining investment momentum would require policy consistency, expansion into new export markets, stronger penetration of existing markets, labour market reforms, formalisation of the informal economy and improved access to industrial land.